President took part in affirmation ceremony of new Chief Justice of AIFC Court

In his speech, President Tokayev noted that Kazakhstan always pays special attention to the formation of a modern, professional and independent judicial system that meets international standards. In this regard, the establishment of the AIFC Court at the initiative of the First President – Elbasy once again demonstrates the country's strong commitment to systemic structural reforms in the judicial system.

“The AIFC Court provides an opportunity for investors working in Kazakhstan or planning to come to the region to meet honorable judges, procedures, practices and standards at the AIFC Court, similar to those in other major financial centres around the world. Experienced common law judges, renowned for their robust impartiality, integrity and incorruptibility are also a strong safeguard for a stable judicial system,” Kassym-Jomart Tokayev stressed.

According to Kazakhstan’s President, against the backdrop of the global turmoil caused by the pandemic and the fall in oil prices, the role and importance of the AIFC in economic recovery is increasingly relevant, including in attracting investment.

“The AIFC is expected to earn a reputation for being a reliable financial platform and to raise the confidence and trust towards Kazakhstan among foreign investors. In turn, being a key part of the AIFC structure, the independent common law judicial system represented by the AIFC Court has an important role to play in the functioning of the AIFC and, accordingly, in the effective functioning of the Kazakhstan’s investment program,” the Head of State said.

At the end of the event, President of Kazakhstan Kassym-Jomart Tokayev expressed appreciation to Lord Woolf for his personal contribution to the creation of the AIFC court system, as well as wished success and fruitful work to Lord Lord Mance as Chief Justice of the AIFC Court.